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PH plc operates a modern factory that changes chemicals into fertilizer. Due to the the demand for its product is seasonal, the company expects that there will be an average level of idle time equal to 20% of hours paid. This is incorporated into the companyís standard costs, and the standard labour rate of Rs.6.00 per hour paid is then adjusted accordingly. Any difference among the expected and the original amount of idle time is reported as the ëidle time varianceí and is valued adjusted wage rate.
(a) Measure the idle time variance and the efficiency variance for April.
(b) (i) Using the data provided and your answer to (a) above as appropriate, prepare a percentage variance chart that determine the trend of these variances. (Use graph paper and show both variances on the similar chart.)
(c) Explain shortly the factors that should be considered before deciding to investigate a variance.
Service Cost Centres Since no production cost units pass via the service cost centers, it is essential to apportion the service department costs; to the production cost center
annual usage rs 160000@ 40 per unit, cost of placing and receiving one order rs 200:annual carrying cost ; 25% of inventory value
explain one operation: unit or output cost
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Reasons for Overhead Variances Useful for Control Reasons Overhead variances are essentially a book balancing exercising giving an arithmetic reconciliation between the actual
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